haku: @journal_id 7 / yhteensä: 1856
viite: 253 / 1856
| Tekijä: | Coen, R. |
| Otsikko: | The NAIRU and wages in local labor markets |
| Lehti: | American Economic Review
1999 : MAY, VOL. 89:2, p. 52-57 |
| Asiasana: | ECONOMICS PAY LABOUR MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Unemployment in the United States has been below its presumed NAIRU (non-accelerating-inflation rate of unemployment) of 6 percent for more than four years. The doctrine or dogma of the NAIRU led to the expectation that an unemployment rate below the NAIRU would make accelerating inflation inevitable; but by all measures inflation has, if anything, declined and shows no signs of increasing. The NAIRU doctrine has had a major role in macroeconomic theory and monetary policy for several decades. |
SCIMA